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2005 SESSION

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HB 2763 Transportation projects; removes certain designated as funded from Priority Transpotation Fund.

Introduced by: Leo C. Wardrup, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Transportation projects.  Authorizes the Commonwealth Transportation Board, by and with the consent of the Governor, to issue from time to time revenue obligations of the Commonwealth to be designated "Commonwealth of Virginia Federal Highway Reimbursement Anticipation Notes, Series ….," provided that the aggregate principal amount outstanding at any time shall not exceed $1.2 billion plus an amount for financing expenses.  The net proceeds of the Notes shall be used exclusively for the purpose of providing funds, together with any other available funds, for paying the costs, incurred or to be incurred for construction or funding of projects listed in the Six-Year Improvement Program as may be adopted from time to time by the Commonwealth Transportation Board.


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